A developer has bought two office buildings along Sandy Springs’ northern Roswell Road with plans for a “high-end” townhome project, according to the broker of a $4.25 million sale.
Duluth-based Edge City Properties bought the buildings at 200 Hannover Park Road and an adjacent vacant lot on the corner with Roswell Road in a deal that closed Feb. 27, according to Bull Realty, the Sandy Springs-based broker.
Edge City aims to redevelop the properties into 65 townhomes priced in the $600,000 range, according to Bull Realty.
Edge City CEO Michael Dye did not have immediate comment. In recent years, he has proposed major subdivision projects in several north metro Atlanta cities, according to media reports.
The office buildings date to 1980 and total about 70,000 square feet, according to Fulton County property records. The combined properties total 5.67 acres, according to the broker.
The properties are among those the city has highlighted in its new priority of spurring redevelopment in the northern Roswell Road corridor. The redevelopment concept revolves around higher-end retail and restaurants and a more diverse mix of housing by price and type. The redevelopment concept has made the area an increasing center of gentrification concerns and affordable housing proposals.
“This is the latest proposed development in what’s looking to be a remarkable transformation of the Roswell Road corridor in northern Sandy Springs,” said Daniel Latshaw, a partner at Bull Realty, in a press release about the sale.